Guotai Junan HKSE IPO

Overview:

• Guotai Junan Securities—one of the largest investment banks in the PRC—has raised HK$16.47 billion in an IPO on the HKSE in the largest listing in Asia-Pacific so far this year.
• The issuer offered 1.04 billion new shares at a rare fixed-price offering of HK$15.84 each, as the deal is the biggest stock sale in Hong Kong since Postal Savings Bank of China’s IPO.
• The Shanghai-listed brokerage aims to use the money raised to expand its institutional client business and open retail branches. 

Adam Majeed - Regional editor